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GT Biopharma Reports Second Quarter Fiscal 2022 Financial Results and Business Update
Presented preclinical data demonstration second-generation CD19 targeting Tri-specific Killer Engager (TRIKE®) driving robust NK cell function against B cell
About this update from Gt Biopharma, Inc.
[{"type":"text","content":"Presented preclinical data demonstration second-generation CD19 targeting Tri-specific Killer Engager (TRIKE®) driving robust NK cell function against B cell malignancies at EHA 2022 Congress.GTB-5550 (B7-H3) abstract poster presentation accepted at upcoming ESMO 2022 Congress. $23.7 million in cash, cash equivalents and short-term investments as of June 30, 2022, is expected to provide runway to fund operations into 2023. BRISBANE, Calif., Aug. 11, 2022 (GLOBE NEWSWIRE) -- GT Biopharma, Inc. (the “Company” or “GTB”) (NASDAQ: GTBP), a clinical stage immuno-oncology company focused on developing innovative therapeutics based on the Company's proprietary natural killer (NK) cell engager, TriKE® platform, today announced second quarter fiscal 2022 results for the period ended June 30, 2022. “As we move GTB-3650, our second-generation lead Camelid TriKE®, forward into the clinic, we are maintaining momentum across the larger breadth of promising oncology indications in GT Biopharma’s pipeline. We expect to file an Investigational New Drug (IND) application for GTB-3650 in the first half of 2023, subsequently followed by an IND application for GTB-5550. We are building a strong portfolio of knowledge across GT Biopharma’s TriKE® product candidates through investigation of preclinical solid tumor and hematological cancers models. As we continue to produce additional validating preclinical data across our pipeline, we believe we will be able to fulfill the critical need for novel and targeted therapeutic interventions for the treatment of patients in our pipeline cancer indications,” said Michael Breen, Executive Chairman and Interim CEO of GT Biopharma. Quarterly Highlights Presented preclinical data demonstration second-generation CD19 targeting Tri-specific Killer Engager (TRIKE®) driving robust NK cell function against B cell malignancies at EHA 2022 Congress.Abstract poster presentation accepted at upcoming European Society for Medical Oncology (ESMO) Congress 2022: “B7-H3 Targeted Tri-specific Killer Engagers deliver IL-15 to NK cells but not T cells, and specifically targets solid tumors as a pan-tumor antigen strategy mediated through NK cells.”Mr. Alan Urban a member of the Board of Directors has assumed the role of financial expert of the Audit Committee. Mr. Urban has over 30 years of experience in corporate finance and acco...